Saudi Investment Bank (SAIB) said on Sunday it had secured a $400 million syndicated loan from local and international banks. SAIB said in a statement the loan would be signed in London on Friday with local, regional and international banks and that Citigroup would be the lead syndication manager. No further details were given.
Several Saudi banks have issued bonds or sought loans in recent months in an effort to shift some of their liabilities away from short-term customer deposits, anticipating a boom in long-term borrowing in the biggest oil exporting country.
Banque Saudi Fransi in June signed a five-year syndicated term loan worth $650 million, the largest ever by a Saudi bank.
Comments
Comments are closed.